Pi Network (PI) continues to face selling pressure despite several high-profile announcements during its Pi Day 2 event. The token dropped to $0.512—down 4,1% from last 24 hours high and 68% from its May peak—underscoring market skepticism despite the platform’s new features, including AI integration and ecosystem staking.

AI Push and Developer Tools Fail to Lift Market Confidence

The Core Team revealed a strategic shift toward artificial intelligence, encouraging developers to build AI-powered apps using the Pi App Studio. Citing strengths such as its built-in KYC system, a 60-million-strong user base, and tools like Pi Ad Network, .pi domains, and Pi Wallet, the team positioned the platform as a robust AI-enabled environment.

In tandem, they introduced ecosystem directory staking—a feature allowing users and businesses to stake PI to boost app rankings within the network. The goal is to create a market-driven visibility model that incentivizes interaction and app usage. Additional updates included Onramper wallet integration and a new version of the Pi Node (v0.5.2) with enhanced security.

However, traders seemed unimpressed, likely due to the absence of an exchange listing, the predictability of the announcements, and unresolved concerns over token unlocks and centralization.

Technical Setup Points to Possible Rebound

Despite short-term weakness, technical indicators suggest a potential recovery. On the 12-hour chart, PI appears to be forming a double-bottom pattern near $0.3976, with a neckline at the $1.67 May high. In addition, the token has broken above a falling wedge pattern and is attempting a retest—typically seen as a bullish continuation signal.

If this setup holds, analysts believe Pi could target the $1.00 mark in the near term. However, sustained upside will likely depend on improved investor confidence and tangible progress in decentralization and token liquidity. Until then, sentiment around Pi remains cautious, with traders awaiting clearer signs of adoption and structural reforms.

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